Sterling Brokers
Sterling Brokers is a Toronto-based, PE-backed employee benefits brokerage and third-party administrator serving 3,000+ Canadian employers via licensed advisors, proprietary SCB Connect administration platform, and Multi-Employer Group (MEG) Blocks for SMBs.
- Company typePrivate
- Founded2014
- HeadquartersToronto, Canada
- Headcount51–100
- GTM typeB2B
- OfferingServices
What Sterling Brokers does
Sterling Brokers is a Canadian employee benefits brokerage and third-party administrator headquartered in Toronto, founded in 2014. The company serves over 3,000 Canadian employers ranging from sole proprietors to publicly traded enterprises, placing approximately $900 million in annual premiums across health, dental, vision, life, disability, retirement, and wellness products. Sterling operates through licensed benefits advisors and dedicated account managers across six provinces, with additional global reach via the Worldwide Broker Network and an exclusive channel partnership with the Canadian Automobile Association (CAA) Business Members program.
The company's core technology is SCB Connect, a proprietary benefits administration platform built on AWS infrastructure in Canada. SCB Connect provides bidirectional HRIS and payroll integration, automated carrier reconciliation, paperless onboarding, and a 24/7 employee self-service portal. Sterling is also a pioneer in Multi-Employer Group (MEG) Blocks in Canada, a structural pooling mechanism that gives small and medium businesses access to enterprise-quality plan rates and superior Target Loss Ratios that they could not negotiate independently.
Sterling earns revenue primarily through carrier commissions on placed premiums (typically 3-8% of annual premium), supplemented by third-party administration fees for enrollment management, claims adjudication, and billing. The go-to-market combines direct sales through licensed benefits advisors, the CAA referral channel, and self-service enrollment via SCB Connect. The company is privately held and operates as a platform investment of HGGC, a middle-market private equity firm whose Fund V closed at $3.2 billion in February 2026. Sterling is led by CEO Andrew Blanchard, President Tom McArdle, CFO Miriam Morenes, CTO Adam Penly, and CPO Emily Fleck, and is pursuing ISO 27001 certification while maintaining PIPEDA compliance for data protection.
Sterling Brokers firmographics
Firmographics- Name
- Sterling Brokers
- Legal name
- Sterling Brokers Ltd.
- Website
- https://sterlingbrokers.com
- Company type
- Private
- Founded year
- 2014
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Sterling Brokers is a Toronto-based, PE-backed employee benefits brokerage and third-party administrator serving 3,000+ Canadian employers via licensed advisors, proprietary SCB Connect administration platform, and Multi-Employer Group (MEG) Blocks for SMBs.
- Ownership category
- akta.pro rank
Sterling Brokers industry classification
Industry- Product category
- Employee Benefits Brokerage
- NAICS
- Insurance Agencies and Brokerages (52421), Insurance Agencies and Brokerages (524210)
- SIC
- Insurance Agents, Brokers & Service (6411)
- akta.pro primary industry
- Specialty Insurance Brokerage (Marine, Aviation, Cyber, Professional Lines) (FSAEADAJ)
- akta.pro secondary industry
- Broker-Dealer Affiliated Wealth Advisory (FSAEABAB)
Keywords
Where Sterling Brokers is headquartered
LocationHeadquarters
- HQ city
- Toronto
- HQ country
- Canada
- HQ region
- North America
Offices6 records
Markets served
Sterling Brokers business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Benefits Brokerage Commission: Sterling earns commission from insurance carriers, typically 3-8% of annual premium. The company acts as an intermediary between employers and insurance providers, earning commissions on placed coverage including health, dental, vision, life insurance, disability, and retirement plans.
- Third-Party Administration (TPA) Services: Provides TPA services including enrollment management, employee onboarding, benefit administration, payroll deductions, claims adjudication, and billing. Acts as third-party administrator for group benefit plans.
- Technology Platform Services: Free tech platform (SCB Connect) provided to clients as part of brokerage services. Platform includes enrollment, HRIS integration, carrier reconciliation, and employee self-service capabilities.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Small Business (5-15 employees): $300-$600 per employee per month |
| Subscription | Monthly | Mid-Market (15-50 employees): $250-$500 per employee per month |
| Subscription | Monthly | Enterprise (50+ employees): $200-$400 per employee per month |
Go-to-market motion2 records
Distribution channels5 records
Marketing channels4 records
Sterling Brokers product offering
Product offeringCore offering
Sterling Brokers is an independent Canadian employee-benefits brokerage and third-party administrator that designs, places, and manages group insurance, retirement, wellness, and health benefits programs for businesses across Canada. The firm serves as intermediary between employers and insurance carriers, earning commissions and administration fees while providing HRIS-integrated benefits administration through its proprietary SCB Connect platform. It pools small and medium employers into Multi-Employer Group (MEG) Blocks to deliver enterprise-quality plan rates at SMB pricing.
Product overview
Sterling Brokers offers a unified portfolio of group benefits products and services for Canadian employers, anchored by its proprietary SCB Connect technology platform. The core offering combines Custom Benefit Solutions (including MEG Blocks for pooled SMB pricing) with Group Insurance (Block-tier and Enterprise-tier), Group Retirement Services, Group Wellness (mental health, virtual care, EAP), and Health Benefits (dental, vision, life, disability, HSAs). Consulting services support plan design, renewal management, and benchmarking. The SCB Connect platform acts as the operational backbone, delivering HRIS/payroll integration, employee self-service, carrier data feeds, and automated enrolment. The acquired brand MB Pensions & Benefits Group (powered by Sterling) extends their reach to B Corp and female-led client segments.
Differentiator
Problem solved
Functional benefit
Products and services
- SCB Connect Platform
Quantifiable outcome
- 97% annual client retention rate
- +4 more outcomes
Companies that use Sterling Brokers
Customer profileNamed customers5 records
Segments4 records
Ideal customer profiles3 records
Sterling Brokers technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration3 records
Feature5 records
Sterling Brokers partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core.
- Canadian Automobile Association (CAA)coreSterling Brokers partnered with CAA to deliver tailored group benefits solutions to CAA Business Members. The partnership offers exclusive group benefits solutions with up to 10% off comprehensive plans, including extended health, dental, life insurance, disability, and Employee & Family Assistance Programs. CAA Business Members receive dedicated Sterling advisor support with flexible plan design scaled for businesses of all sizes.
- Worldwide Broker NetworkcoreSterling is a member of the Worldwide Broker Network, giving the ability to support clients across the globe. This partnership enables Sterling to offer global benefits coverage through international network of broker partners for companies with international operations or employees.
Scale indicators8 records
Recent moves6 records
Expansion highlights6 records
Sterling Brokers competitors and assessment
Company assessmentDirect peers
- Hub International: Hub International is one of the largest insurance brokerages in North America, also PE-backed (PSP Investments/Hellman & Friedman), offering commercial insurance and benefits brokerage to mid-market and enterprise clients. Most directly comparable to Sterling in scale, PE ownership, and benefits brokerage focus.
- Aon: Aon is a global professional services firm with a major Canadian benefits and risk brokerage practice. Competes with Sterling for enterprise Canadian accounts and brings broader consulting capabilities, but represents the largest competitive threat at the enterprise tier.
- Marsh (Marsh McLennan): Marsh operates a large Canadian benefits and commercial insurance brokerage. As part of Marsh McLennan, it competes with Sterling across enterprise and mid-market segments and offers similar carrier negotiation and consulting services.
- Willis Towers Watson: Willis Towers Watson provides global benefits brokerage and consulting with a substantial Canadian practice. Competes with Sterling for large employer benefits mandates and brings actuarial, retirement, and risk consulting capabilities that overlap with Sterling's product set.
- TELUS Health (formerly Morneau Shepell): TELUS Health is a leading Canadian provider of benefits administration, EAP, virtual care, and group retirement services. One of Sterling's closest domestic competitors, particularly in the mid-market and enterprise segments, with technology-enabled administration capabilities.
- Acera Insurance: Acera Insurance is a Canadian insurance brokerage offering commercial and group benefits across multiple provinces. Directly comparable in mid-market benefits brokerage focus, though smaller than Sterling in scale and premium placement.
- BrokerLink: BrokerLink is one of Canada's largest independent insurance brokerages, offering personal, commercial, and benefits coverage. Directly comparable to Sterling as a large Canadian independent broker with multi-province presence, though with broader lines of business beyond employee benefits.
- GreenShield Canada: GreenShield is a Canadian not-for-profit health and dental benefits provider offering group benefits administration, claims management, and pharmacy services. Comparable to Sterling in employer-sponsored health and dental benefits, with hybrid carrier/broker capabilities.
Emerging players
- League: League is a Canadian digital health benefits platform offering technology-led benefits administration and navigation to employers. Represents the digital-native challenger that could disintermediate traditional brokers like Sterling in the SMB and mid-market segments.
Broad incumbents
- Sun Life Financial: Sun Life is one of Canada's largest life insurers and a major group benefits and group retirement provider. Serves as both a Sterling carrier partner and an indirect competitor through direct employer relationships and digital benefits platforms.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Sterling Brokers social profiles
Digital presenceSterling Brokers compliance and trust
Trust signalCompliance2 records
Sterling Brokers financial estimates
Financial estimateRevenue estimate
Valuation estimate
Sterling Brokers leadership team
Management profileNumber of profiles
Profiles6 records
Sterling Brokers subsidiaries and ownership
Company hierarchySubsidiaries1 record
Sterling Brokers funding detail
Funding detailFunding overview
Funding rounds2 records
Investors3 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Sterling Brokers M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Sterling Brokers
What does Sterling Brokers do?
Sterling Brokers is an independent Canadian employee-benefits brokerage and third-party administrator that designs, places, and manages group insurance, retirement, wellness, and health benefits programs for businesses across Canada. The firm serves as intermediary between employers and insurance carriers, earning commissions and administration fees while providing HRIS-integrated benefits administration through its proprietary SCB Connect platform. It pools small and medium employers into Multi-Employer Group (MEG) Blocks to deliver enterprise-quality plan rates at SMB pricing.
Is Sterling Brokers a public or private company?
Sterling Brokers is a private company. It is classified as private equity controlled and is currently operating.
When was Sterling Brokers founded?
Sterling Brokers was founded in 2014. It employs 51 to 100 people.
Where is Sterling Brokers based?
Sterling Brokers is headquartered in Toronto, Canada, in the North America region.
How does Sterling Brokers make money?
Three revenue lines are on record. Benefits Brokerage Commission is the primary driver. The others are third-Party Administration (TPA) Services and technology Platform Services.
Who are Sterling Brokers's main competitors?
Direct peers on record are Hub International, Aon, Marsh (Marsh McLennan), Willis Towers Watson, TELUS Health (formerly Morneau Shepell), Acera Insurance, BrokerLink and GreenShield Canada. League is listed as an emerging player. Sun Life Financial is listed as a broad incumbent.
Does Sterling Brokers have an API?
No public API is recorded for Sterling Brokers.
What industry is Sterling Brokers in?
Sterling Brokers's product category is Employee Benefits Brokerage. Its primary akta.pro industry code is FSAEADAJ, Specialty Insurance Brokerage (Marine, Aviation, Cyber, Professional Lines), with a secondary code of FSAEABAB, Broker-Dealer Affiliated Wealth Advisory. Its NAICS code is 52421 and its SIC code is 6411.